Stimulus Check Question: I’m interesting in applying for a stimulus check for my mother, who’s is 76yrs old and is currently on a fix income. So any money can help, What steps i need to do to obtain these funds?

Answer: The stimulus check isn’t something that you apply for, it is something that you either qualify for or you don’t. The 2009 stimulus check that were sent out last spring/summer were sent to those on social security (as of Jan 2009), military veterans and retired rail road workers. If your mother was in any of those categories, she should have received a stimulus check.

There are stipulations such as, if she was working (which may or may not apply to your mother) she would not get a $250 stimulus check, or else would have to pay it back, because she would be getting the higher amount tax credit taken out of each paycheck.

Going into 2010 there is possible word of a 2010 stimulus check again for those on social security, and possibly for the veterans. Those that are working are still getting the same tax credit on each paycheck to total $400-$600 over the coarse of the year.

In 2009, President Obama set some mighty high goals for his first year in office. To his credit, he hit most of them. The big winners were the multi billion dollar stimulus package, making progress for financial reform, lowering unemployment rates and dealing with terrorist threats.

Since this is a blog about the Stimulus Check, I won’t go over the points from the other achievements President Obama has made. The Stimulus Package that he signed into law shortly after coming into office created many opportunities and hope for businesses and individuals.

Not everyone can agree on how they see eye to eye on if what Obama did was the best, but it did work. He got money into the hands of most of the people who needed it most.

Most of the plans from the stimulus package about helping those that are currently employed remain in effect through 2010. For those currently not working and retired, there will more then likely be a 2010 stimulus check coming your way this spring/summer.

Today in Washington President Obama has called for a new round of stimulus spending for our country to help with the staggering economy. This new stimulus funding could total over $150 Billion Dollars to jolt the economy back on track.

These funds are primarily going to go be used for more road construction, new bridges, tax breaks for small businesses, tax breaks for energy efficient home upgrades and a 2010 stimulus check. All of these are aimed at getting money flowing, getting people employed and getting money in the hands of those that need it.

President Obama wants to give an additional $250 to seniors and veterans, similar to the 2009 stimulus check. This check would be handed out in a similar manner to those that received one this year, plus those that weren’t eligible this year that would be for next year’s stimulus check would also receive one.

Earlier this month President Obama in front of congress suggested that they put together a plan that would send a second stimulus check to retirees and veterans. This check would be sent early next year in the form of a 2010 stimulus check.

This stimulus check would be sent out instead of a cost of living increase for retirees and veterans alike. Also a factor in the decision is that inflation has been negative as current recession that we’re in has been driving down prices of all goods in every market.

The stimulus check is not something that you need to pay back to the government like a loan, nor do you need to pay taxes on it come tax time in April. The stimulus check is considered free money for you to do with as you please. The main reason for it was that you would spend it in hopes of stimulating the economy, hence the name, stimulus check.

To repeat, you do not have to pay back the stimulus money that you received during the year.

The social Security stimulus checks that were sent out this year are not taxable and are not considered taxable income. The money that you received this year in the form of a stimulus check is something that you are meant to spend on things, or catch up on bills, not something to be taxed on and paid back later to the IRS.

That is the benefit of stimulus checks, untaxed income to be used however you like.

When you receive money from the IRS in the form of a stimulus check, it is not considered taxable income, it is free money that is meant to be spent by you to stimulate the economy. Yes, you may have to declare on your income tax form that you received a stimulus check and for how much, but it is not something that you will need to pay taxes on.